Seshaasai Applied sciences Restricted, a Mumbai-based funds options supplier, filed its draft crimson herring prospectus (DRHP) with the markets regulator, the Securities and Change Board of India (SEBI), on Friday, December 27.
The corporate is a funds answer supplier that develops know-how for contactless funds, buyer communication and sensible traceability. The agency additionally caters to training, wellness, retail and transport sectors, based on information collected from analysis company Tracnx.
Seshaasai Applied sciences IPO particulars
The corporate, via a book-built difficulty, goals to boost ₹600 crore from a recent issuance of fairness shares with a face worth of ₹10 per share. The general public provide may even embrace an offer-for-sale (OFS) part with 78,74,015 or 78.74 lakh fairness shares. The entire quantity of the difficulty is undisclosed within the regulatory submitting.
Pragnyat Pravin Lalwani and Gautam Sampatraj Jain are every promoting off almost 39.37 lakh fairness shares through the general public difficulty’s OFS part.
The corporate goals to make use of ₹195.328 crore to fund its capital expenditure wants for the enlargement of present manufacturing items. Seshaasai Applied sciences additionally plans to make use of ₹300 crore of the web proceeds to repay or prepay, in components or in full, sure excellent borrowings. The remaining funds are anticipated for use for common company functions.
IIFL Capital Providers Restricted, ICICI Securities Restricted and SBI Capital Markets Restricted are the book-running lead managers for the general public difficulty, whereas Hyperlink Intime India is the registrar.
Concerning the firm
Seshaasai Applied sciences made a web revenue of ₹40.48 crore as of the quarter ended June 30 within the monetary 12 months 2024-25, based on the draft papers. The corporate’s income from operations was ₹360.50 crore for a similar interval.
For the monetary 12 months ended March 2024, the corporate’s income had been at ₹169.27 crore, in comparison with ₹108.09 crore in 2023 and ₹37.35 crore in 2022. As of June 2024, the corporate’s web value stood at ₹506.34 crore.
The corporate caters to banking, monetary providers and insurance coverage (BFSI) and different sectors. Lack of any of the important thing clients, or discount in income earned from these key clients could have an hostile impact on the corporate’s enterprise, the funds answer supplier disclosed.
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